Considering a Move to a Competitor for a 100% Salary Hike: Is It Worth the Risk?

Request for Advice on Switching from One IT Company (Vendor) to Another

I am currently working for 7 years at an IT company (Vendor 1, a well-reputed MNC) that serves as one of the vendors for a bank. A software project I have been working on for 4.5 years has been transferred to a competitor/vendor (Vendor 2, another reputable MNC) due to the bank's strategies/management. I have heard that there is a 100% salary increase if I move/jump to Vendor 2/competitor.

Should I make the switch to Vendor 2? Would this move violate any terms with Vendor 1, my current employer? How would my current company be affected by this decision? Will this change impact my career negatively, or could it be a great opportunity for me to secure a significant salary increase at another reputable MNC? I kindly request your advice to guide me in the right direction. Thank you in advance.

The new organization has decided to offer you a 100% salary increase compared to your current employer. You need to confirm that the total compensation (CTC) offered by the new organization is in line with the market rate.

From your message, it seems like your current employer and the new employer are portrayed as archrivals trying to undermine each other. The 100% salary increase could be an attempt to lure you away from your current job to disrupt the competitor's business.

You have not provided details regarding the notice period or whether the new employer is willing to let you join without a relieving letter from your current employer. It's important to get everything in writing from the new employer before making the switch from your current job. It's advisable to avoid such situations to make a wise decision.

Please review and consider the above points before making any decisions.

Best regards, [Your Name]

Thank you, dear friend, I will tell you what happened in the background.

Current Position and Salary Concerns

I am currently earning only 40% of the market rate in my current company (Vendor 1). I am uncertain about whether to move to Vendor 2. During January 2021, a few months back, I requested a salary hike from my current reporting manager due to my family's financial situation. My manager assured me of recommending me for a promotion, which made me happy.

Manager's Proposal to Move to Vendor 2

I am shocked by my current reporting manager. I am working in Vendor 1 of bank 'X'. My manager asked me to move to Vendor 2 of bank 'X' with a commission of Rs. 30,000. He assured me of recommending me to Vendor 2 for a 100% salary hike via a consultancy and some social media group (as a buddy) for a good salary hike. However, I am sad because my project has been moved to Vendor 2. He told me that he is impressed by my performance in the project, which is going to move to Vendor 2. That is why he is going to recommend me to Vendor 2 through a consultancy and some media connections.

Doubts and Request for Advice

I am surprised by his words since he is strict in all things like leaves and working hours. I suspect my current reporting manager. Is what he says really true? Is he really taking care of me regarding my current low salary and financial situation? Should I believe his words? Should I move to Vendor 2 for a 100% salary hike as he said? I request your advice on this. Thank you very much. 